iTunes help

Is there a way once I rip music into iTunes to move it to another place to free up HD space?

I don't want to have to re-import or re-rip.

It would be kinda nice to have it function like an MP3 player, have your library elsewhere and import the song/playlist/cd for temporay enjoyment.

If iTunes doesn't do this or something similar is there any media app that does, laptop hd space is a commodity and having to recreate a library is just plain prohibitive to enjoyment.

Thanks, in advance